Single touch payroll (STP) requires employers to report to the Australian Taxation Office (ATO) information on employees’ salaries and wages, allowances, deductions, PAYG Withholding and superannuation at the time they pay their employees which the ATO are calling a ‘pay event’. This means an employer will need to use some form of payroll software to allow an automatic transfer of data between an employer’s payroll provider and the ATO at the time when a pay run is finalised.
It is important to note an employer’s payroll cycle does not need to change and the employer can continue to pay its employees as usual.low an automatic transfer of data between an employer’s payroll provider and the ATO at the time when a pay run is finalised.
The
Single Touch Payroll Reporting article is only available to our members.
Please enter your username and password below to gain access.
Click here to become a member.
